In a short but crisp and tightly written paper, Luigi Zingales, a professor of entrepreneurship and finance at University of Chicago, shows why the new regulation following the global meltdown needs to be fundamentally different from the one written 70 years ago in the 1930s.
Titled The Future of Securities Regulation, his primary argument in this paper is that the focus of regulatory protection needs to shift away from “unsophisticated investors vis-à-vis the underwriting of securities to the investment in mutual funds, pension funds, and other forms of asset management.”
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